Skip to comments.2010 Repeat-07 Glenn Beck hoodwinks investors to buy gold at $800
Posted on 05/11/2010 1:20:44 PM PDT by steve0
(Where are all the liberal media articles about how Glenn is overhyping gold? Glenn's Goldgate?)I will never support Glenn Beck again!!! On his advice and the advice of people on his show, I bought gold at less than $800.00 an ounce. He began hyping Gold in 11/20/2007 and earlier. Now gold is dropping like a rock and I can only sell my Gold for $1,200.80 a percentage increase of only 43.5%.
Yeah, but the fascist government will just confiscate it all just like FDR did, so NAH! At reasonable price of course.
I think people have given up investing, where Beck and Limbaugh have pretty much proved that Obama wants to break the knees of capitalism at in-debt our children for the foreseeable future, no?
“Gold company stocks? :-)”
I bought Ford last March, (2009), sold it in January, 2010. I only made about 275% on that.
Actually just started buying stocks outside of my 401k in March 2009. My small portfolio is only up an anemic, (compared to F), 100%. I currently hold BAC, MYL, MTW and CSCO.
me too - and he even made me double up with junk silver and roos.
And even get the IMF to bail us out????
The pathetic hacks at MSNBC hammered Beck relentlessly on this last year. Crickets since.
Fidelity Gold fund has done quite well.
I demand financial reforms and an investigation of all the right wing talk show hosts that are hyping gold, they are hurting stocks by their actions. Also maybe we need switches to even out the highs and lows such as those proposed by homo Barney Frank and dufus Dodd.
We bought a jewelry store in 1997 and stocked up on bullion....we’re good. :)
That darn Capitalism.
800? Late to the party!
Get a chart of that compared to the broad stock market since the 1850s.
Man, you got so screwed. (congrats! :)
I think part of the new financial overhaul should include oversight of Glenn Beck since he’s acting as an “investment advisor”. I’m surprised Clod Dodd isn’t trying to incoporate that into the bill.
Where do I get in line for Glenn’s investment advice again?
“I am sure the NYT and other loser lib papers will wring their hands about Savage et al. after gold peaks again soon. Do you have a link to document Savages sales pitch back in 2003? I hope all the liberals heeded the liberal medial warning about the gold hucksters and dumped their entire gold holdings, ha ha. Thanks.”
I wish i had a link. When i moved to the states back in ‘03, i listened to Savage for the first time in my life. Had commercials where he pushed “ buy gold now “...i don’t remember if it was Buygoldnow.com or whatever it was. I do remember it was less than $400 an ounce then, because i thought he was retarded since i could grow weed and make as much as investing. I was retarded.
Yeah their attacks are certainly old.
I hyped gold in 1999. Gold was under $300.
That depends upon the when they brought and sold. If they brought gold in 1981 as a long-term investment, the investment would have would have grown about 50% over 29 years or about 1.72% per year, which means that gold lost money after factoring in inflation. For example, a $10,000 investment in gold in 1981 would be worth about $15,000 today before the effects of inflation.
The S & P 500 index, in contrast, had an average annual return during that time period of approximately 12.5%, and a $10,000 investment in the Vanguard S & P 500 Index Fund in 1981, would be worth about $190,000 today before the effects of inflation. Since March 2009, many stock mutual funds, including the Vanguard S & P 500 Index are up over 40% and many funds are up 60% or more, but unlike gold, these funds can be brought and sold with a few clicks of the keyboard without paying a commission of any kind.
I really hate to disappoint you, but just because Rush, Mark, and Glen hawk gold on their shows, doesn't make gold a good long-term investment.
Your time line is irrelevant to the present. Gold is rising vs the US$ because it is becoming less and less valuable when measured against a gold standard
Perhaps, but the question is the investor’s time horizon. If the time horizon is a 30 year old waiting for retirement, gold allocation should be small. If you’re making a trading play on an inflation scenario, then gold certainly looks more appetizing.